Enity Holding AB, formerly known as Bluestep Bank AB, is a specialized financial institution focused on the Nordic mortgage market. The company operates through three main consumer brands: Bluestep Bank (across Sweden, Norway, and Finland), Bank2 (in Norway), and 60plusbanken (in Sweden). Enity's core business model revolves around providing tailored residential mortgages, second charge mortgages, and equity release loans to a niche customer segment that is typically underserved by traditional universal banks. This includes individuals with non-traditional employment, self-employed workers, and retirees. To fund its lending activities, Enity relies on retail deposits gathered through its high-yield savings accounts, supplemented by wholesale funding such as senior unsecured bonds and covered bonds. The company generates revenue primarily from net interest income—the spread between the interest earned on its specialized mortgage portfolio and the interest paid to depositors and bondholders. By utilizing a proprietary cloud-based technology platform and an in-house underwriting system, Enity efficiently assesses credit risk and manages its loan book, maintaining a strong competitive position in the alternative mortgage lending space across the Nordic region.
